TORONTO, May 2, 2018 /CNW/ -- Stina Resources Ltd. ("Stina" or the "Company") (CSE: SQA) (OTCQB: STNUF) (Frankfurt: 01X) is pleased to announce a strategic relationship with, and US $1.95 million investment in, Braggawatt Energy Inc. ("Braggawatt"). Braggawatt provides financing through an online platform that allows corporations and not-for-profit organizations to effectively adopt cost saving onsite energy solutions.
This investment will allow Stina and its wholly-owned subsidiary, Enerox GmbH, to capitalize on quickly expanding market opportunities for enabling enterprise customers' effective adoption of cost-saving onsite energy solutions.
Enerox is one of the world's first and largest researchers, developers, manufacturers and distributors of vanadium flow batteries. As an industry leader in the energy storage sector, it has installed CellCube vanadium flow batteries at over 100 sites around the world.
As energy storage deployments continue to rapidly increase globally, Stina is committed to making strategic investments to further its commercial advantages as a global, integrated energy storage company for both customer-sided and utility scale energy storage applications.
"The CellCube is globally recognized as a commercially superior energy storage solution and we are excited to be working closely with the team at Stina/Enerox to help remove many of the perceived project risks through custom financing products. Our online process and growing network of installation partners will also help remove transactional soft costs, which are often key factors in preventing distributed energy storage projects from moving forward," said Oleg Popovsky, Braggawatt's Chief Customer Officer.
"We are transforming how distributed energy projects are originated, underwritten, financed, and implemented by empowering systems integrators, end-customers and asset investors as well as now product manufacturers to collaborate via our online platform," added Trey Ramsey, Braggawatt's CEO.
"Our investment in Braggawatt as an innovative fintech company for distributed energy solutions complements our vision for Stina to be a fully integrated energy storage company. With our end-to-end business approach, we are bringing about the next evolution in the way energy storage will be integrated in demand-side and distributed generation power infrastructure alike," says Brian Stecyk, President and CEO of Stina.
"Stina is very pleased to invest in Braggawatt. Both companies will work together to develop unique finance products for our CellCube energy storage solutions. Our working relationship will help accelerate the adoption of high quality energy storage systems across many markets where enterprise and independent power generation customers can benefit from demand response, microgrid, and grid ancillary/capacity applications to secure energy cost savings and pursue new revenue opportunities," commented Stefan Schauss, President and CEO of Enerox.
About Stina Resources Inc.
Stina's acquisition of the assets of Gildemeister Energy Storage GmbH has transformed Stina and its wholly-owned subsidiary, Enerox, into a leading integrated resource and energy storage company. The investment into Braggawatt Energy Inc. will bring innovative financing products as well as an expanding partner base to enhance Enerox's go-to-market efficiency when serving enterprise customers for both stand-alone energy storage projects as well as projects where energy storage enhances the value proposition from renewable energy generation.
About Braggawatt Energy Inc.
Braggawatt's end-to-end online financing process revolutionizes enterprise clients' ability to adopt cost-saving distributed energy solutions, without upfront cost and with savings & process certainty. Braggawatt's no money down, custom financing and ownership options empower small and medium-sized enterprises as well as their regional solution providers to accelerate the adoption of clean, onsite energy solutions worth "bragging" about.
For further information, please contact:
Mr. Brian Stecyk, President and CEO
Stina Resources Ltd.
Telephone: +1-800-882-3213
Email: info@stinaresources.com
www.stinaresources.com
This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
Stina Resources Ltd
Ste 10 – 8331 River Road
Richmond, BC V6X 1Y1
+1-800-882-3213
CSE: SQA 12g3-2(b): 82-2062
OTCQB: STNUF Frankfurt: 01X
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SOURCE Stina Resources Ltd.
